What Are The Steps To Become A Real Estate Agent

What Are The Steps To Become A Real Estate Agent

What Are The Steps To Become A Real Estate Agent – If you’re interested in learning how to become a real estate agent in Michigan, you’re in the right place! Before you can start selling homes, you need to obtain a salesperson’s license. Unlike other professions, you don’t need a college degree or years of on-the-job training. All you need to do is fulfill the requirements and complete a few steps.

Very quickly, let’s clear up a common misconception! You’ll often hear the terms “real estate agent” and “realtor” used interchangeably, but they don’t mean the same thing.

What Are The Steps To Become A Real Estate Agent

What Are The Steps To Become A Real Estate Agent

A real estate agent is someone licensed by the state to practice real estate sales. A realtor is a licensed real estate agent who is also a member of the National Association of REALTORS® (NAR).

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The steps to becoming a realtor begin with becoming a licensed real estate agent, so let’s get right into it. Here are five steps to becoming a real estate agent in Michigan.

The first requirement you need to meet is the age limit. Only people 18 years of age or older can get a Michigan real estate license.

Additionally, Michigan requires applicants to be of good moral character. The Michigan Department of Licensing and Regulatory Affairs (or LARA) determines whether a person has good moral character by conducting a criminal background check. LARA will run that criminal background check when you apply for your salesperson license, but we’ll talk more about the application process in a second!

A felony is not necessarily a deal breaker, as LARA reviews felony convictions on a case-by-case basis. However, law MCL 339.2505 states, “LARA shall not issue a real estate broker’s license to a new applicant who has been convicted of embezzlement or misappropriation of funds.” Agents need to be trusted to handle their clients’ funds, so those two specific crimes are deal breakers.

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Anyone applying for a real estate license in Michigan must first complete pre-licensing courses. This includes people who already have a real estate license in another state.

LARA requires all applicants to take a 40-hour Michigan real estate pre-licensing course from an approved instructor. Four coursework hours must cover civil rights law and equal opportunity in housing. The remaining 36 hours cover licensing exam topics such as financing, state regulations, and property ownership. Courses can be taken in person or online.

Michigan real estate agents are independent contractors, but they are not completely self-employed. Agents (licensed sales persons) must work under the supervision of a broker sponsor. Any licensed broker in Michigan can serve as a sponsor, but finding a brokerage that fits your career goals is critical.

What Are The Steps To Become A Real Estate Agent

You can wait to find a sponsoring broker after you pass the licensing exam, but you will not be issued an active license immediately after taking the test. Instead, you’ll go through, find a sponsoring broker, and once LARA verifies their information, they’ll issue you an active license.

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However, you have no time to despair! Your exam results are only valid for one year, so you need to find a broker sponsor within that period.

Now that you’ve met the education requirements and found a sponsoring broker, it’s time to send in your real estate licensing application. You can submit an application online using the MiPLUS system. You will also have to pay an $88 application fee when you submit. Remember, LARA will conduct a background check at this stage, so be honest on the application about any past legal issues.

You can include the sponsoring broker’s information if you have it, but they still need to confirm the working relationship after the application is submitted. After processing the LARA application, your information will be sent to PSI, the licensing exam administrator.

Before you can get a real estate license, you must pass the state licensing exam. Once PSI receives your information, you can register to take the exam at PSIexams.com.

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On the day of the exam, your picture will be taken before the exam begins. This is a pass/fail exam that includes national and Michigan-specific real estate questions. If you do not pass the exam in your first attempt, you can retake the exam. (But I bet you ACE it!)

Remember, if you are successful but do not have a sponsoring broker, you will not receive an active license. On the other hand, if you are successful and already have a sponsoring broker,  you will get a pocket license right away! Within two weeks, a formal wall license will be sent to your sponsoring broker’s office.

That’s all! Now you know how to get a real estate license in Michigan! But before you go, let’s talk about what it takes to become a realtor.

What Are The Steps To Become A Real Estate Agent

To become an official Michigan Realtor, you will join the local chapter of the Association of Realtors after receiving your salesperson’s license. Complete the application to join and pay your new membership dues. By joining your local association, you automatically become a member of the Michigan REALTORS® and the National Association of REALTORS®.

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The downside to being a realtor is the annual cost – those perks ain’t free, my friend. That’s how the cookie crumbles.

If you’re looking to take the path of an agent or realtor, we know you’ll love learning through Aceable, so sign up for your pre-licensing course today!

Lauren has been an instructional content writer at Aceable since January 2021, where she has worked on several courses. Passionate about empowering others through education and training and has 10 years of experience in this field.

Ready to go Hit the ground running with everything you need to know to advance your career in real estate.

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We’re sorry, Microsoft no longer actively supports your browser. Ready to become a real estate agent? Call our friendly experts with questions: 855-637-1886. Whether you want to advance your career, earn more money, or fulfill your lifelong dream, becoming a real estate professional and earning the REALTOR® mark is a great choice. A real estate industry stands out in the real estate industry by having a high code of ethics and standards of conduct and benefits by expanding their sphere of influence and network.

Often, the terms ‘real estate agent’ and ‘REALTOR®’ are used interchangeably, however, they are not the same thing as there are some differences between the two.

REALTOR® is a federally registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its code of ethics.

What Are The Steps To Become A Real Estate Agent

A real estate agent is someone who has passed the real estate exam and obtained a real estate license issued by the state. After obtaining a license, real estate agents are legally permitted to work with buyers and sellers in commercial and/or residential real estate or real property transactions.

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To become a real estate agent, you must obtain a real estate license. First, you must complete a minimum number of courses from a state-accredited real estate school and pass a real estate exam that covers local, state, and national laws, contracts, and practice standards.

Next, you’ll need to submit fingerprints and a background check. Finally, you will need to pay a licensing fee to your state’s real estate commission. Remember, each state has different educational requirements and fees associated with licensing. Always check with your state’s real estate commission if you are unsure about the requirements or fees associated with receiving your license.

While you don’t need to be a realtor to have a successful career in real estate, there are many qualities that can help you stand out in your industry.

Being a member of NAR gives you a unique title and gravitas that many other agents don’t have. Plus, you’ll be able to develop lasting relationships with other agents, which will expand your sphere of influence and network and help grow your business.

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As a REALTOR®, you will have the ability to take additional classes that will allow you to receive more demanding real estate designations. These designations will help you become an expert in your niche, grow your business, and increase your income and earning potential. Following is a list of some of the most popular certifications.

Get early access to sales, helpful real estate tips, industry news and course updates straight to your inbox. Getting a real estate license in California is a great way to make money.

Many people obtain a real estate license because they want to become a real estate agent. They are aware of unlimited earning potential, workplace freedom and other job-related benefits.

What Are The Steps To Become A Real Estate Agent

But, in this article, we want to highlight real estate license. Specifically, how to get your real estate license in 5 easy steps and more.

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That’s all! Once you have completed all 5 steps, you are an active agent ready to start your real estate career.

Once you qualify for your real estate license, you will need to attend an accredited real estate school.

A California real estate school will teach you salesperson pre-licensing material

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